Hyperion Solutions (HYSL) - An Analytical Gorilla? Message Board

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Technology Stocks : Hyperion Solutions (HYSL) - An Analytical Gorilla?

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To: Ed Frye who wrote (304)	12/31/1998 8:57:00 AM
From: W. Ruane	Read Replies (1) of 471

Recent weakness.... Yesterday the GM Pension filed an SEC/144 to sell HYSL converts, which I believe were issued through a private placement. The converts sell for under 80cents on the dollar with a 4.50% coupon and several years of call protection, providing a low double digit yield to call (I don't have the exact numbers in front of me but I think it's around 12%). Credit risk is mitigated by HYSL's large cash position. The converts might be a safer play on HYSL for those seeking less volatility, and would seem to offer an attractive risk/reward (not that the common stock doesn't). I don't know why GM filed to sell. As an aside, am I mistaken in believing that something like almost $1 billion in shareholder value has evaporated since May (old HYSW + old ARSW now worth $500M)? Wouldn't that sufficiently discount the current negative sentiment?

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